Plaza LoĆza adopting solar energy to slash costs at its stores by 60%
Puerto Rican grocery retailer Plaza LoĆza is embarking on a project that calls for installing rooftop solar energy systems at its stores, in conjunction with Delta Energy Partners and ESCOPR, to cut its monthly energy costs by at least 60%.
In an interview with News is My Business, Ferdysac MĆ”rquez, vice president of Plaza LoĆza, confirmed that its first store in the MetrĆ³polis shopping center in Carolina should be equipped with 682 solar panels ā both rooftop and carport-style ā by yearās end.
āThis basically will cover the entire rooftop, plus weāre creating carports, similar to those used at the Puerto Rico Convention Center, to benefit customers, who will have their cars covered by the solar panels,ā he said.
The project, which has been in the works for two years, calls for doing the same in two more stores ā at one currently being remodeled in the BayamĆ³n sector of Valle Arriba Heights that is scheduled to reopen in July ā and Calle LoĆza in 2024. Plaza LoĆza has eight locations islandwide, but is kicking off the renewable energy project at the stores it owns, MĆ”rquez explained
Through the agreement, Plaza LoĆza becomes the first supermarket on the island to adopt Energy-as-a-Service (EaaS) solutions to reduce energy costs, hedge against future electricity rate increases and cut its carbon footprint ā all with no capital investment required. Essentially, Plaza LoĆza will lease the equipment from Delta Energy Partners and ESCOPR, which will handle the installation, maintenance and other related matters for the life of the 25-year agreement, MĆ”rquez said.
āThis project, using the EaaS model, will significantly reduce our carbon footprint, helping us achieve our goal to be more friendly to our environmentĀ and decrease our energy costs, at a time when Puerto Rico’s power rate is already high and continues to increase,ā he said.
Once operational, the solar equipment will save some $22,000 a month in energy costs. Plaza LoĆza currently pays LUMA Energy 32 cents per kilowatt-hour, which will drop to 23 cents per kilowatt-hour for the solar energy service.
When the first three stores are up and running, the retailerās savings will total $264,000 a year, or $6.6 million over the 25-year contract, MĆ”rquez calculated.
āAs you know, energy costs fluctuate and itās quite expensive for grocery stores,ā he said.
With no-cost-down EaaS offerings, Delta Energy Partners and ESCOPR are paving the way for more grocery stores and food retailers, which usually consume large amounts of energy and occupy large open spaces that are ideal for onsite solar systems, to improve their bottom line while reducing their environmental impact.Ā
āWeāre pleased to partner with a visionary and sustainability focused organization like Plaza LoĆza,ā said Bill Butler, president of Delta Energy Partners. āThis deal will enhance their energy independence, reducing energy costs and carbon footprint, while also hedging against future increases in electricity rates.ā
According to a recent report by the Puerto Rico Energy Bureau, electricity prices have increased by more than 12% over the past year, with no signs of slowing down. Although the government has several initiatives to tackle these issues, it is the private sector and individuals who must take action to implement energy conservation solutions, the executives agreed.Ā Ā
“ESCOPR has been helping Puerto Rico’s government and businesses achieve ever-higher energy efficiency and lower carbon emissions for 20 years, and Plaza LoĆza is a prime example of maximizing clean energy technology’s potential,ā said Jorge HernĆ”ndez, president of ESCOPR.
āWe look forward to continuing our partnership with Plaza LoĆza as they blaze the sustainability trail in the grocery industry and move closer to āNet Zeroā energy,ā he said.
